Dictionary Definition
Mammonism | ˈmamənˌizəm |
noun
- An ideology or belief system that treats wealth accumulation as the highest good, pursued without regard for human, social, or environmental cost.
- The practice of prioritizing profit and capital gain over all other values, including human welfare, ethical considerations, and collective wellbeing.
- A compulsive devotion to the acquisition and retention of wealth far beyond functional utility or productive purpose.
Related Forms
- Mammonist (noun): One who practices or embodies Mammonism; a person who worships wealth and prioritizes monetary gain above all else.
- Mammonistic (adjective): Characterized by or relating to Mammonism.
Usage Examples:
- "The healthcare crisis reflects the dominance of Mammonism in our economic policy."
- "Corporate Mammonists continue to lobby against living wage legislation."
Synonyms: wealth-worship, plutocratic ideology, extractive accumulation, predatory capitalism
Etymology and Historical Context
The term derives from Mammon, a word of Aramaic origin (māmōnā, meaning "wealth" or "riches") that appears in both the Christian New Testament and Islamic texts.
"No one can serve two masters... You cannot serve both God and mammon."
- Matthew 6:24
Throughout medieval Christianity, Mammon became identified as a demon of greed and avarice, often depicted as one of the Seven Princes of Hell in demonological texts. Islamic tradition similarly recognizes the concept in discussions of materialism versus spiritual devotion.
The modern construction "Mammonism" emerged in critical economic and philosophical discourse as a framework for analyzing extreme wealth accumulation in late-stage capitalism, particularly the phenomenon of billionaire-class wealth concentration that accelerated in the late 20th and early 21st centuries.
Conceptual Framework
Mammonism is distinguished from ordinary wealth accumulation or business success by several key characteristics:
Scale Beyond Utility
Accumulation continues far beyond any functional benefit, security need, or capacity for personal use. A person with $100 billion seeking additional billions exemplifies this pattern.
Extraction Over Production
Wealth generation occurs primarily through rent-seeking, financial engineering, labor exploitation, and market manipulation rather than genuine productive contribution to society.
Systemic Harm
The accumulation process actively deprives others of resources, concentrates political power, distorts markets, suppresses wages, and creates social instability.
Moral Justification
The behavior is rationalized through narratives of meritocracy, innovation, job creation, or market efficiency despite evidence of inherited advantage, exploitation, and rent extraction.
Compulsive Quality
The accumulation appears to operate as a compulsion detached from rational self-interest, continuing regardless of diminishing or absent marginal utility.
Characteristics
Scholars and critics identifying Mammonistic behavior patterns note several recurring features:
Individual Level
- Empathy Deficits: Inability or unwillingness to register harm caused to workers, communities, or society
- Narcissistic Grandiosity: Self-perception as exceptional, deserving, or chosen; requiring constant validation through wealth metrics
- Moral Disengagement: Psychological mechanisms that allow harmful actions without experiencing guilt or remorse
- Identity Fusion: Personal identity becomes inseparable from wealth accumulation; loss of wealth perceived as existential threat
Systemic Level
- Regulatory Capture: Using wealth to control the rules that govern wealth accumulation
- Political Influence: Deployment of resources to shape legislation, policy, and governance
- Cultural Legitimation: Creation and maintenance of narratives celebrating extreme wealth as virtuous
- Generational Entrenchment: Concentration of wealth across family lines, creating inherited privilege and worldview
Relationship to Economic Systems
Mammonism is analyzed as both product and driver of specific economic configurations:
Rentier Capitalism
Systems where wealth generates returns through ownership and extraction rather than productive activity create conditions favoring Mammonistic patterns.
Financialization
As capital becomes increasingly abstract (numbers rather than tangible assets), the psychological detachment enabling extreme accumulation intensifies.
Regulatory Erosion
The weakening of constraints on wealth concentration since the 1970s - including tax policy changes, deregulation, and weakened labor protections - created environmental conditions where Mammonistic behavior thrives.
Feedback Loops
Critical analyses identify evolutionary dynamics where:
- Economic systems reward psychopathic traits (lack of empathy, ruthlessness)
- Individuals with these traits accumulate power
- Powerful individuals reshape rules to further reward these traits
- System becomes increasingly optimized for Mammonism
- Cycle accelerates
Biblical and Spiritual Context
"No one can serve two masters. Either you will hate the one and love the other, or you will be devoted to the one and despise the other. You cannot serve both God and mammon."
This foundational text establishes Mammon as a personified force opposed to spiritual values across multiple religious traditions.
Cross-Cultural Recognition
- Christianity: Mammon identified as demon of greed, one of the Seven Princes of Hell
- Judaism: Recognition of material wealth as potential spiritual obstacle
- Islam: Emphasis on charity and warnings against materialistic devotion
The religious framing provides moral weight that transcends secular economic arguments, making Mammonism a spiritual and ethical failing across traditions.